Let’s speak about the Web3 approach that Nike uses. Swoosh.nike is the new domain name for the “Dot Swoosh” (.SWOOSH) ecosystem that was just introduced by the illustrious brand Nike. The ecosystem may be accessed at the domain name “Dot Swoosh.” It would indicate that Nike has the intention of broadening the breadth of its Web3 approach. This would include moving beyond Rtfkt’s endemic client base and targeting its own customer base.
People will be able to purchase, show, and exchange phygital and virtual things on the platform. Additionally, they will be able to obtain access to events and products and collaborate on the creation of products, which are often interactive digital objects such as virtual shoes or jerseys.
Ron Faris, the CEO of Nike’s new Virtual Studios business and the man in charge of the company’s blockchain, Web3, and metaverse initiatives, is the person in charge of the project. According to Faris, the purpose of the effort is not to educate and onboard Web3 natives but rather the Nike community in order to “level the playing field.”
“When you think of a virtual product like a virtual shoe, for example, it is not simply a shoe; rather, it is the product in addition to the experience, service, or utility that is baked into it. We do not consider the virtual product to be the culmination of the purchasing process; rather, we consider it to be the beginning of the process.
DotSwoosh is going to grow to include features like voting on shoelaces or colors, but Nike hasn’t shown us the whole interface yet. According to Faris, anyone will have the ability to construct their own destination under the “.nike” domain in order to exhibit and maybe sell the things that they produce.
The secrets of Rtfkt’s tea, which has had a significant impact on Nike Virtual Studios, are revealed by Faris. Nike has said that the debut of the first collection would not occur until “early” in the year 2023. At this time, the SWOOSH platform is in an invite-only beta testing phase.
DotSwoosh.eth ENS was acquired by Nike’s Web3 project RTFKT in May for the equivalent of around $35k, which was 19.72 ETH.
Compiled by Coinbold